MTE standalone user base grows

A further 8,000 copies of Mortgage Trading Exchange standalone are to be issued in the next few weeks.

The success of MTE standalone comes after Mortgage Strategy’s MTE for All campaignMark Lofthouse, CEO at Mortgage Brain, says: “Prior to the launch of MTE standalone, 3,000 introducers requested an advance copy. Of these, 86% were Trigold users. The remainder were predominantly additional copies for administrators.”

These 3,000 advance copies have now been dispatched and over the course of the next three or four weeks a further 8,000 will be distributed.

Lofthouse adds: “Electronic trading using MTE standalone has gone from nowhere to 5% in a matter of weeks and I expect this rate of growth to continue for some time.”

MTE standalone is free for brokers until July 2006 but after that it will only be free if they do four transactions a month. If they do not, the system will cost them 10 per month.